By Mr. Santhosh Reddy
The festive season in India commences in August and stays until late December, bringing a vibrant and energetic vibe to the latter half of the year. As 48% of consumers tend to buy more during the festive season, October and November witnessed a surge in shopping and the volume of orders also skyrocket during this month. Brands turn to smart solutions and technology options to match consumer demands. There are always issues like labor shortages, price hikes, delivery delays, etc., which have the potential to disrupt a retailer’s sales and profitability.
Here are some smart solutions for festive supply chain challenges:
Enhanced Inventory Management
Inventory management during the hectic festive season will be difficult and tougher to wrangle than at other times. During the demand rush, there is a retailer’s need to be efficient and streamline their operations. Many online inventory management smart tools help to harmonize the supply and demand process for success.
Better Customer Support
It is important to interact positively with your customers. Smooth communication with the customers will ensure loyalty from the customers. Providing multiple channels for interaction will be convenient and easier for the customers. Keeping customers informed about order delays, and delivery timings through automated alerts is also an efficient strategy.
Budget management
For smoother operations, a well-maintained budget is necessary. Planning logistical expenses will help in better resource management. Budget management will help in minimizing logistics errors and ensure a smoother supply chain process.
Reverse Logistics planning
Companies should be also prepared for potential return orders. Efficient management of returned goods, reducing waste, and making sure the entire process is hassle-free for the customer will ensure customer satisfaction.
Collaborative Planning with Cloud Collaboration Tools
Use cloud-based collaboration tools to facilitate communication and coordination among supply chain partners. This enables real-time information sharing, ensuring all stakeholders are aligned during festive demand peaks.
Storage Management
Warehouses are vital in the supply chain process. During the festive season, there are high demands, therefore companies require secure and robust warehouses that can store the bulk of the products before the shipping begins. Inadequate storage units or warehouses often result in a blunder.
It is also important that the products are organized for efficient handling, this task can be easily performed with the help of online smart tools.
Automation and Technology
Automation and technological solutions help resolve the issue of overstocking and understocking. Data analytics help companies in making informed decisions about inventory levels, distribution channels, and procurement levels.
Smart technological solutions can also help in forecast maintenance needs, consumer trends, fluctuating orders, etc.
To conclude, customer satisfaction depends on how the companies want to overcome the supply chain challenges during the festive season. These smart solutions will help businesses to be better prepared and maintain operational efficiency. To achieve the best results, brands should also make sure they work on their weak spots and improve the previous management methods through these smart solutions.
(The author is Mr. Santhosh Reddy, CTO and Co-Founder, ShakeDeal, and the views expressed in this article are his own)
